Latest Mining Development News

Everest Metals moved Mt Dimer into mining, established a 260,780-ounce Revere gold resource and upgraded its Mt Edon rubidium project in FY2026. Yet the company remains loss-making, has impaired its Mt Dimer development assets and warns that future funding and project cash inflows are needed to support its going-concern assessment.

Lefroy Exploration is considering folding the high-grade portion of its Burns deposit into the Mt Martin Scoping Study, broadening the development case while pushing delivery into the December quarter. At Lucky Strike, a newly granted licence removes one hurdle but several approvals still stand between the mine and a targeted early 2027 restart.

Carnavale Resources is approaching the final stretch of its bankable feasibility study for the 80%-owned Kookynie Gold Project, backed by a 120,000-ounce resource and strong metallurgical recoveries. The project still requires financing, a toll-treatment agreement and final economic modelling before it can move from promising study to mine development.

Rox Resources has crossed the line from explorer to mine developer, with Youanmi underground mining underway, the processing plant under construction and a target of first gold in mid-2027. The project is financed on paper, but the A$350 million debt package remains subject to conditions precedent and the construction schedule still has to survive execution.

Tolu Minerals has increased the Tolukuma gold resource by 81% to 909,000 ounces after four months of full-scale drilling, pushing its reported Papua New Guinea gold inventory above one million ounces. The proposed early 2027 restart now has a larger resource base, but remains dependent on infrastructure, technical work and conversion of resources into mineable reserves.

US1 Critical Minerals has agreed to transfer six Tanzanian uranium licences to Bradda Head Lithium for up to US$1.8 million, while retaining its Lilombe Project. The deal remains subject to regulatory approvals and other closing conditions.

Cazaly Resources will replace managing director Tara French with mining executive Adrian Byass from 8 October, while launching a review of its exploration portfolio. Byass will receive a $325,000 annual salary and may be granted up to 7 million performance rights, subject to approval and conditions.

Evolution Mining has set out a capital-heavy FY27 strategy, combining a record fully franked 41 cents per share dividend with major spending across Cowal, Northparkes and Ernest Henry. The miner also plans to lift exploration and maintain gold and copper guidance, though much of the production upside remains several years away.

Catalyst Metals has increased the Trident underground Ore Reserve by 32% to 524,000 ounces, supporting a planned mine life of more than 10 years. The result strengthens the company’s ambition to build a 2Moz Reserve base across the Plutonic Belt, although further growth depends on drilling and mine execution.

Black Cat Syndicate has extended gold mineralisation beyond the current resource boundary at Trojan after completing a 56-hole, 6,804-metre RC drilling program. The results support further drilling and a potential resource upgrade, although the new intercepts are exploration results rather than an updated Mineral Resource.

Native Mineral Resources has produced 340.9 ounces of doré in its latest Blackjack smelt, while more than 815,000 tonnes of material has been moved across two active pits. The latest bars still require assay and refinery results before their gold contribution is known.

Gorilla Gold Mines has extended its Lakeview drilling story with a 7.0-metre intercept grading 12.6g/t gold, while securing the final permit for underground activities at Sovereign. Metallurgical testing across three Comet Vale deposits also returned average 94.6% gold recovery after 48 hours at a relatively coarse grind size.